Oil prices rise on bigger-than-expected drop in US crude stocks

📆 18/07/2024 02:14:00
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U.S. Energy Information Administration News

Interest Rates,American Petroleum Institute,West Texas Intermediate

Brent futures rose 13 cents, or 0.2%, to $85.21 a barrel by 0023 GMT, while U.S. West Texas Intermediate (WTI) crude rose 31 cents, or 0.4%, to $83.16. U.S....

- Oil prices ticked higher on Thursday, buoyed by a bigger-than-expected weekly decline in U.S. crude stocks.

Federal Reserve officials said on Wednesday the U.S. central bank is "closer" to cutting interest rates given inflation's improved trajectory and a labor market in better balance, possibly setting the stage for a reduction in borrowing costs in September. The European Central Bank, meanwhile, is all but certain to keep interest rates unchanged on Thursday, but signaled that its next move is likely to be a cut.

The dollar eased on Thursday for a third straight session. A weaker dollar can boost demand for oil by making greenback-denominated commodities like oil cheaper for holders of other currencies.TD stock may look undervalued, but there are reasons for the price drop. Meanwhile, this dividend superstar has more to come. The post 1 Dividend Superstar I’d Buy Over TD Bank Stock appeared first on The Motley Fool Canada.NEW YORK -Global equity indexes mostly fell on Wednesday as possible U.S.

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